Financial circles urge Congress to pass the "U.S. Investment Special Law"… Korean companies face a survival test

The business community is repeatedly urging Congress to quickly pass the pending Korea-U.S. Strategic Investment Management Special Act. There are concerns that if the bill fails to pass, Korean companies will face significant risks in exports to the U.S.

Six major economic groups, including the Korea Economic Association, the Korea Chamber of Commerce and Industry, the Korea Federation of Small and Medium Business, and the Korea International Trade Association, recently issued an urgent appeal, requesting Congress to swiftly pass the bill within the activity period of the Special Committee on U.S. Investment. These groups emphasize that passing the bill will be a crucial opportunity for Korean companies to minimize trade risks and actively expand into the U.S. export market.

Some point out that recently, the U.S. Supreme Court ruled that measures such as reciprocal tariffs under the International Emergency Economic Powers Act are illegal, further increasing uncertainty in the trade environment. Therefore, the business community fears that the U.S. may maintain current tariff policies while imposing additional tariffs on certain countries and products. Industries such as semiconductors, automobiles, and pharmaceuticals, which are key sectors for Korea, could be directly affected.

Previously, President Donald Trump warned that if the Korean National Assembly failed to pass the U.S. Investment Special Act, tariffs on Korean goods would be raised back to levels prior to the Korea-U.S. trade agreement. In this context, some believe that delays in passing the bill could weaken Korea’s negotiating power with the U.S., making it difficult to realize substantive benefits from Korea-U.S. economic cooperation.

How the passage of this bill will be resolved remains uncertain, but the business community hopes Congress will respond swiftly. The future of Korea-U.S. economic cooperation and trade risk management is under close watch.